Industrial Fall Protection Equipment Market Drivers, Restraints, Potential Growth Opportunities, Product Size, Application Estimation, Vendor Competitive Landscape, Trends

The industrial fall protection equipment market is set to experience momentous revenue growth over the coming years owing to the increasing level of focus on worker safety across a plethora of different industrial sectors. For several industrial employees, working at great heights is a regular occurrence and another part of their job. This puts workers at high risk of fall-related accidents, leading to severe injuries and even fatalities.
According to the most recent Bureau of Labor Statistics numbers, falls accounted for 17% of the overall workplace related fatalities, the second most prominent cause of workplace fatality. Considering the hazardous nature of the work environment, several worker safety organizations like OSHA and Safe Work Australia are actively focusing on establishing strict protocols to ensure that such workplace incidences are kept low.
Increasing worker awareness levels and growing presence of such organizations is expected to fuel the demand for fall protection equipment over the coming years. While fall prevention might be addressed in a number of different ways; scaffolds, movable platforms, barriers, and handrails, harnesses, retractable lifelines and lanyards are some of the most commonly used fall protection equipment used throughout industries.
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The industrial fall protection equipment industry is divided into different segments such as product, application, and regional landscape.
With respect to product, the market is categorized into body belts, hard goods, soft goods, rescue kits, full body harness, and others. Among these, the others segment is slated to undergo remunerative growth over the projected time period. Rising safety concerns and stringent regulations on workplace safety is likely to boost product demand. The others segment also include safety helmets that protect head and neck.
In terms of application, the market is further divided into construction, general industry, mining, oil & gas, energy & utilities, transportation, and others. The other industry segment is forecast to record distinguished demand. In fact, the market for fall protection equipment from this segment is likely to grow with CAGR of more than 7.5% over the projected time period owing to rapidly growing demand for safety gear in automotive, packaging, and manufacturing industries.
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From a geographical perspective, the Latin America industrial fall protection market is likely to surpass a valuation of more than $655 million by the end of analysis period owing to rapid rise in construction and renovation activities in the region.
The MEA fall protection equipment market is expected to register tremendous growth owing to rising oil & gas exploration activities and introduction of strict regulations related to workers safety in the region.